However, the notable information is that the Vietnam Bank for Agriculture and Rural Development (Agribank) suddenly adjusted its deposit interest rates from October 16, with an increase of 0.2%/year for terms from 1-5 months, and a decrease of 0.1%/year for terms from 6-9 months.

Thus, 4 banks increased interest rates in October. Besides Agribank, there are also LPBank, Bac A Bank and Eximbank.

According to the latest announcement of the State Bank of Vietnam in the week from September 30 to October 4, the transaction turnover in the interbank market in VND during the period reached approximately VND 2,149,032 billion, an average of VND 429,806 billion/day, an increase of VND 24,430 billion/day compared to the previous week. The transaction turnover in USD converted to VND during the week reached approximately VND 431,959 billion, an average of VND 86,392 billion/day, an increase of VND 11,811 billion/day compared to the previous week.

By maturity, VND transactions mainly focused on overnight (accounting for 90.88% of total VND transaction turnover) and 1-week (accounting for 4.49% of total VND transaction turnover). For USD transactions, the terms with the largest turnover were overnight and 1-week with proportions of 89.74% and 6.92% of total transaction turnover, respectively.

Interest rates for overnight, 3-week, 1-month and 3-month terms all increased by 0.01%; 0.07%; 0.05% and 0.04%/year, respectively.

During the week, the overnight interest rate was 4.17%, 1-week term 4.10%, 2-week term 4.16%, 1-month term 4.28%, 3-month term 4.54%, 6-month term 5.19%, and 9-month term had an interest rate of 5.68%/year.

For interbank USD transactions, the interest rate for 1-week terms increased by 0.01% and 2-month terms increased by 0.04%. Accordingly, the interest rate for overnight USD transactions was 4.83%, 1-2 week terms was 4.87%, 1-month terms was 4.9%, 3-month terms was 4.97%, and 6-month terms was 4.75%.

The report on interbank VND interest rates on October 15 showed that the average interbank interest rate for overnight term dropped sharply to 2.91%, 1-week term dropped to 3.1%, 2-week term also dropped sharply to 3.22%, 1-month term 3.23%, 3-month term 4.07%. However, the interbank interest rate for 6-month term increased to 5.15%.

Regarding interbank transaction turnover, overnight transactions still accounted for over 90% of total transactions, reaching VND302,294 billion.

LNH Interest Rate.jpg
Interbank interest rates on October 15, 2024. Source: SBV
HIGHEST DEPOSITS INTEREST RATES AT BANKS ON OCTOBER 17, 2024 (%/YEAR)
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
AGRIBANK 2.2 2.7 3.2 3.2 4.7 4.7
BIDV 2 2.3 3.3 3.3 4.7 4.7
VIETINBANK 2 2.3 3.3 3.3 4.7 4.7
VIETCOMBANK 1.6 1.9 2.9 2.9 4.6 4.6
ABBANK 3.2 3.7 5 5.2 5.6 5.7
ACB 3.1 3.5 4.2 4.3 4.9
BAC A BANK 3.8 4.1 5.25 5.35 5.7 5.85
BAOVIETBANK 3.3 4 5.2 5.4 5.8 6
BVBANK 3.8 4 5.2 5.5 5.8 6
CBBANK 3.8 4 5.55 5.5 5.7 5.85
DONG A BANK 3.9 4.1 5.55 5.7 5.8 6.1
EXIMBANK 3.9 4.3 5.2 4.5 5.2 5.8
GPBANK 3.2 3.72 5.05 5.4 5.75 5.85
HDBANK 3.85 3.95 5.1 4.7 5.5 6.1
KIENLONGBANK 3.7 3.7 5.2 5.3 5.6 5.7
LPBANK 3.9 4.1 5.2 5.2 5.6 5.9
MB 3.3 3.7 4.4 4.4 5.1 5
MSB 3.7 3.7 4.6 4.6 5.4 5.4
NAM A BANK 3.8 4.1 5 5.2 5.6 5.7
NCB 3.8 4.1 5.45 5.65 5.8 6.15
OCB 3.9 4.1 5.1 5.1 5.2 5.4
OCEANBANK 4.1 4.4 5.4 5.5 5.8 6.1
PGBANK 3.4 3.8 5 5 5.5 5.8
PVCOMBANK 3.3 3.6 4.5 4.7 5.1 5.8
SACOMBANK 3.3 3.6 4.9 4.9 5.4 5.6
SAIGONBANK 3.3 3.6 4.8 4.9 5.8 6
SCB 1.6 1.9 2.9 2.9 3.7 3.9
CBBANK 3.8 4 5.55 5.5 5.7 5.85
SHB 3.5 3.8 5 5.1 5.5 5.8
TECHCOMBANK 3.25 3.45 4.55 4.55 4.85 4.85
TPBANK 3.5 3.8 4.7 5.2 5.4
VIB 3.2 3.6 4.6 4.6 5.1
VIET A BANK 3.4 3.7 4.8 4.8 5.4 5.7
VIETBANK 3.8 4 5.2 5 5.6 5.9
VPBANK 3.6 3.8 5 5 5.5 5.5